WASHINGTON, D.C. (Feb. 26, 2021) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement from Kevin Kuhlman, Vice President of Government Relations, in response to Main Street Tax Certainty Act, re-introduced today by Rep. Jason Smith (R-MO) and Henry Cuellar (D-TX) in the U.S. House of Representatives and Sen. Steve Daines (R-MT) in the U.S. Senate. The legislation makes the Small Business Deduction permanent.
“NFIB strongly supports the Main Street Tax Certainty Act. The Small Business Deduction allows pass-through businesses the ability to deduct up to 20% of qualified business income and, unfortunately, it is currently scheduled to expire at the end of 2025. This legislation makes this critical deduction permanent for small business owners across the country.
“After emerging through this tumultuous pandemic, the last thing small business owners need is additional uncertainty. We commend Senator Steve Daines and Representatives Jason Smith and Henry Cuellar for their continued leadership and assistance to small business owners.”
NFIB joined a strong coalition supporting the legislation and sent a letter of support for the Main Street Certainty Act – H.R. 1381 and S. 480.
NFIB previously supported the Main Street Tax Certainty Act during the 116th Congress and conducted research on the impact the Tax Cuts and Jobs Act had on small businesses.